The deal ensures the tenants will pay below-market rents “for the long term,” the subsidiary, Standard Communities, said. As before, all but one of the apartments will stay under a project-based federal Section 8 contract.

Property records indicate Starrett Corporation is the seller.

Standard secured a so-called Article XI tax abatement, which is earmarked for construction or rehabilitation of affordable housing, according to co-founder Scott Alter. He added that around 20 percent of the units will be earmarked for homeless New Yorkers.

Lynne Patton, regional administrator of the federal Department of Housing and Urban Development, touted the deal as an example of the “effective public-private partnership that Secretary Carson and this administration have championed.”